Cardano (ADA) continues to assert its dominance in the Layer 1 (L1) blockchain ecosystem, leading with the highest weekly development activity, as highlighted by on-chain data provider IntoTheBlock in a recent post on X.

In the realm of top L1 blockchains, Cardano stands out with its consistent delivery of the highest number of weekly commits, showcasing its active developer community and commitment to ongoing enhancements.

Measuring Cardano's development activity involves tracking various metrics, including the number of unique contributors, overall project events, and the volume of unique GitHub activity contributors. These metrics offer valuable insights into the continuous efforts to upgrade the blockchain network, address recurring issues, and introduce new features.

High development activity not only underscores the blockchain's commitment to progress but also serves as a reassuring signal against potential exit scams, highlighting the project's credibility and long-term viability.

Recent Trends in Cardano's Ecosystem

However, despite its robust developer activity, Cardano's ecosystem has witnessed a decline in user engagement since March. Data from Artemis indicates a notable decrease in the daily count of unique addresses completing transactions on Cardano, dropping by 32% from its year-to-date high on March 7 to March 16.

Similarly, the number of unique on-chain interactions with Cardano has declined, with the daily transaction count falling by 31% from its peak on March 7 to March 16. This decline in demand for the network has corresponded with a 50% decrease in total fees over the past week.

In terms of its native token ADA, its value has experienced an 18% decline over the past seven days, trading at $0.61 at the time of reporting, according to CoinMarketCap.

Additionally, the recent market pullback has led to a slight decrease in ADA's futures open interest, dropping by 15% since March 14, coinciding with a decline in Bitcoin's price below $74,000.

Despite these challenges, ADA funding rates across crypto exchanges remain notably positive, indicating continued optimism among futures traders for a potential price rally in the future.